reports
- Research Department
IBERIAN DAILY 29 APRIL + 1Q’24 RESULTS. HIGHLIGHTS AND REST OF PREVIEW...
NEWS SUMMARY: BBVA, CAF, IAG, NATURGY, TELEFÓNICA, UNICAJA. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 1Q’24 results to be released over the coming days in Spain. The Ibex hits new annual highs Friday’s gains, driven by the good earnings season on both sides of the Atlantic and some widening in sovereign yields led stock exchanges to end in positive territory, particul...
- Research Department
INFORME DIARIO 29 ABRIL + RDOS. ESPAÑA Y EUROPA 1T’24. IDEAS DESTACADA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: BBVA, CAF, IAG, NATURGY, TELEFÓNICA, UNICAJA. EUROPA: PHILIPS. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 1T’24 que se publicarán en España y Europa en los próximos días. El Ibex logra nuevos máximos de 2024 Los avances del viernes, impulsados por la buena campaña de resultados a ambos lados del Atlánti...
- Ahmed Ben Salem
FP TOTAL SE
AC ACCOR SA
SGO COMPAGNIE DE SAINT-GOBAIN SA
EQNR EQUINOR ASA
DG VINCI SA
BVI BUREAU VERITAS SA
ADP AEROPORTS DE PARIS SA
AAL ANGLO AMERICAN PLC
SU SCHNEIDER ELECTRIC SE
BNP BNP PARIBAS SA CLASS A
SK SEB SA
GFC GECINA SA
RMS HERMES INTERNATIONAL SCA
RCO REMY COINTREAU SA
SAF SAFRAN S.A.
AIR AIRBUS SE
DTE DEUTSCHE TELEKOM AG
WPP WPP PLC
REP REPSOL SA
MOCORP METSO OUTOTEC OYJ
SKF B SKF AB CLASS B
INX IMCD N.V.
CLNX CELLNEX TELECOM S.A.
STM STMICROELECTRONICS NV
UMI UMICORE
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
ADYEN ADYEN NV
DSY DASSAULT SYSTEMES SA
SGSN SGS SA
TEN TENARIS S.A.
- Carole Braudeau
LHN LAFARGEHOLCIM LTD.
AC ACCOR SA
AMS AMS AG
SGO COMPAGNIE DE SAINT-GOBAIN SA
DG VINCI SA
ATO ATOS SE
BFIT BASIC-FIT NV
SK SEB SA
NXI NEXITY SA CLASS A
MF WENDEL SE
KORI KORIAN SA
CGM CEGEDIM SA
GRF GRIFOLS S.A. CLASS A
WIZZ WIZZ AIR HOLDINGS PLC
ERA ERAMET SA
DIC DIC ASSET AG
CLNX CELLNEX TELECOM S.A.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
- Ahmed Ben Salem
FP TOTAL SE
AC ACCOR SA
SGO COMPAGNIE DE SAINT-GOBAIN SA
EQNR EQUINOR ASA
DG VINCI SA
BVI BUREAU VERITAS SA
ADP AEROPORTS DE PARIS SA
AAL ANGLO AMERICAN PLC
SU SCHNEIDER ELECTRIC SE
BNP BNP PARIBAS SA CLASS A
SK SEB SA
GFC GECINA SA
RMS HERMES INTERNATIONAL SCA
RCO REMY COINTREAU SA
SAF SAFRAN S.A.
AIR AIRBUS SE
DTE DEUTSCHE TELEKOM AG
WPP WPP PLC
REP REPSOL SA
MOCORP METSO OUTOTEC OYJ
SKF B SKF AB CLASS B
INX IMCD N.V.
CLNX CELLNEX TELECOM S.A.
STM STMICROELECTRONICS NV
UMI UMICORE
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
ADYEN ADYEN NV
DSY DASSAULT SYSTEMES SA
SGSN SGS SA
TEN TENARIS S.A.
- Carole Braudeau
LHN LAFARGEHOLCIM LTD.
AC ACCOR SA
AMS AMS AG
SGO COMPAGNIE DE SAINT-GOBAIN SA
DG VINCI SA
ATO ATOS SE
BFIT BASIC-FIT NV
SK SEB SA
NXI NEXITY SA CLASS A
MF WENDEL SE
KORI KORIAN SA
CGM CEGEDIM SA
GRF GRIFOLS S.A. CLASS A
WIZZ WIZZ AIR HOLDINGS PLC
ERA ERAMET SA
DIC DIC ASSET AG
CLNX CELLNEX TELECOM S.A.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
- Andres Bolumburu
- Andres Bolumburu
- Ana Arjona-Martinez
- Antonio Rodriguez Vicens
Cellnex : Results with no surprises maintain a healthy growth rate
>Organic growth and EBITDA both in line with expectations - Cellnex’s Q1 2024 results were in line with our estimates and with the consensus at the operating level: recurring EBITDA of € 778m vs € 777m from the consensus and € 777m for ODDO BHFe; and EBITDAaL of € 535m vs € 536m from the consensus and € 536m for ODDO BHFe. Organic growth remained strong in the tower business, at a +6.6% increase in PoPs in Q1 2024 (+6.4% in FY 2023), which was still slightly above the...
- Research Department
INFORME DIARIO 26 ABRIL + RDOS. ESPAÑA Y EUROPA 1T’24. IDEAS DESTACADA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACCIONA ENERGÍA, CAF, CELLNEX, IBERDROLA, FERROVIAL, ROVI. EUROPA: AIRBUS, DEUTSCHE TELEKOM, SAFRAN, VINCI. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 1T’24 que se publicarán en España y Europa en los próximos días. Los resultados y la macro lastran las bolsas Tras tres días de ganancias, los r...
- James Ratzer
- Charlotte Vaisse
- Emmanuel Matot
- Jean-Baptiste Rouphael
- Konrad Zomer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/25/2024
Having flirted with the 495-point mark on Friday, which could have triggered an extension of the correction, the market has rebounded well since then. Our technical analysis highlights a configuration in which we are only at the start of a powerful rally. Target of 622 points for Stoxx 600 index (+11%) by the end of the year confirmed. Prefer banks to insurance companies in the short term. - ...
LHN LAFARGEHOLCIM LTD.
REL RELX PLC
GET GETLINK SE
IPN IPSEN SA
EQNR EQUINOR ASA
WCH WACKER CHEMIE AG
CA CARREFOUR SA
BVI BUREAU VERITAS SA
SU SCHNEIDER ELECTRIC SE
KNEBV KONE OYJ CLASS B
ORA ORANGE SA
RI PERNOD RICARD SA
ULVR UNILEVER PLC
GLE SOCIETE GENERALE S.A. CLASS A
NESN NESTLE S.A.
ENI ENI S.P.A.
BAS BASF SE
SAN SANOFI
VOW3 VOLKSWAGEN AG PREF
SY1 SYMRISE AG
01913 PRADA S.P.A.
REP REPSOL SA
MOCORP METSO OUTOTEC OYJ
KGX KION GROUP AG
MONC MONCLER SPA
ASSA B ASSA ABLOY AB CLASS B
IBE IBERDROLA SA
AZN ASTRAZENECA PLC
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
HFG HELLOFRESH SE
ADYEN ADYEN NV
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
DSY DASSAULT SYSTEMES SA
AZE AZELIS GROUP NV
ATCO A ATLAS COPCO AB
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
DSFIR KONINKLIJKE DSM N.V.
- Charlotte Vaisse
- Emmanuel Matot
- Jean-Baptiste Rouphael
- Konrad Zomer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/04/2024
Après avoir frôlé vendredi la barre des 495 points qui aurait pu déclencher la poursuite de la correction, le marché a ensuite bien rebondi. Notre analyse technique met en lumière une configuration où nous ne serions qu’au début d’un rallye puissant. Objectif 622 points (+11%) d’ici à la fin de l’année confirmé sur le Stoxx 600. Préférer les banques aux assurances à court terme. - ...
LHN LAFARGEHOLCIM LTD.
REL RELX PLC
GET GETLINK SE
IPN IPSEN SA
EQNR EQUINOR ASA
WCH WACKER CHEMIE AG
CA CARREFOUR SA
BVI BUREAU VERITAS SA
SU SCHNEIDER ELECTRIC SE
KNEBV KONE OYJ CLASS B
ORA ORANGE SA
RI PERNOD RICARD SA
ULVR UNILEVER PLC
GLE SOCIETE GENERALE S.A. CLASS A
NESN NESTLE S.A.
ENI ENI S.P.A.
BAS BASF SE
SAN SANOFI
VOW3 VOLKSWAGEN AG PREF
SY1 SYMRISE AG
01913 PRADA S.P.A.
REP REPSOL SA
MOCORP METSO OUTOTEC OYJ
KGX KION GROUP AG
MONC MONCLER SPA
ASSA B ASSA ABLOY AB CLASS B
IBE IBERDROLA SA
AZN ASTRAZENECA PLC
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
HFG HELLOFRESH SE
ADYEN ADYEN NV
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
DSY DASSAULT SYSTEMES SA
AZE AZELIS GROUP NV
ATCO A ATLAS COPCO AB
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
DSFIR KONINKLIJKE DSM N.V.
- Benoit Valleaux
- Steven Gould
Société Générale : Le RN au T1 2024 va rester pénalisé par des charges...
>Des revenus d’intérêt en France encore impactés par les couvertures - La Société Générale publiera son RN du T1 2024 le 3 mai prochain, qui restera faible en niveau absolu, impacté par différents éléments non récurrents. Nous prévoyons des revenus de 6 729 M€ (+0.9%) supérieurs au consensus (6 396 M€), du fait de notre hypothèse d’une charge plus faible au niveau du corporate center, mais également de prévisions de revenus supérieurs au consensus en banque de détail...
- Benoit Valleaux
- Steven Gould
Societe Generale : Q1 2024 earnings set to be penalised by non-recurri...
>Interest income in France still affected by hedging - Société Générale is set to report its Q1 2024 earnings on 3 May, which will remain weak in absolute terms, affected by various non-recurring items. We expect revenues of € 6,729m (+0.9%) higher than the consensus (€ 6396m), due to our assumption for a lower charge at the level of the corporate centre, but also our estimates for revenues in French retail banking, global markets activities and mobility which are ab...
- Research Department
IBERIAN DAILY 25 APRIL + 1Q’24 RESULTS. HIGHLIGHTS AND REST OF PREVIEW...
NEWS SUMMARY: ACS, AEDAS HOMES, CELLNEX, EBRO FOODS, IBERDROLA. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 1Q’24 results to be released over the coming days in Spain. Stock markets deflate European stock markets started the session off well but began to deflate, eventually closing with losses after US stock markets opened in the red and following a new rise in sovereign de...
- Research Department
INFORME DIARIO 25 ABRIL + RDOS. ESPAÑA Y EUROPA 1T’24. IDEAS DESTACADA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACS, AEDAS, CELLNEX, EBRO FOODS, IBERDROLA. EUROPA: BASF, BNP, PERNOD RICARD, SANOFI, SCHNEIDER. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 1T’24 que se publicarán en España y Europa en los próximos días. Jornada de más a menos Las bolsas europeas comenzaron bien la jornada, pero fueron perdiendo fuelle...
- Carole Braudeau
- Carole Braudeau
- Fehmi Ben Naamane
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 04/22/2024 Date Performance sin...
EPS growth prospects are brighter in the US than in Europe, which is justified given the differential in the growth and inflation outlook between the two regions. However, the adjustment that has taken place on EPS in Europe is a positive factor: we are now "at the price" ahead of the cyclical recovery that is taking shape for the rest of 2024. Sector-wise, the ongoing upward revision of EPS in travel & leisure, banks and media is expected to continue apace and provide support for sec...
GTT GAZTRANSPORT & TECHNIGAZ SA
WTB WHITBREAD PLC
G24 SCOUT24 AG
ICAD ICADE SA
ASC ASOS PLC
VIS VISCOFAN S.A.
SHOT SCANDIC HOTELS GROUP
A3TV ATRESMEDIA CORPORACION DE MEDIOS DE COMUNICACION SA
MEL MELIA HOTELS INTERNATIONAL S.A.
NHH NH HOTEL GROUP SA
IHG INTERCONTINENTAL HOTELS GROUP PLC
PLX PLUXEE NV
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